Master Glossary

The master glossary of terms and acronyms associated with the Trusted Advisor Toolkit™.

« Previous 30 items Next 6 items » 1 2 3 4

QOLE: Quality of Life Enhancer Exercise™
SME: Subject Matter Expert
SRM: Success Road Map®
Subject Matter Expert: An expert in a narrow area of finance. There are five areas of financial services with roles to fill with Subject Matter Experts: financial planning, money management, tax, insurance, and estate planning.
TA: Trusted Advisor
TAR: The Annual Review
TATK: The Trusted Advisor Toolkit
The Trusted Advisor Toolkit™ is the world's first Comprehensive Financial Services Delivery System for financial advisors who serve individuals and families.
The Toolkit is a cloud-based, turn-key business management operating system for financial advisors. The system organizes delivery of comprehensive financial services through a Deliverables Team of Best-in-Class Subject Matter Experts.
The Toolkit helps a financial advisor build and lead a Deliverables Team of Subject Matter Experts to provide Truly Comprehensive Financial Services™ through 142 Deliverables Checkpoints™ completed for each Ideal Client on an annual basis.
The Toolkit is a project-management tool designed to deliver an extraordinary client experience by meticulously orchestrating two things...

- Extraordinary client progress meetings
- Energetic post-meeting follow ups by your team of Subject Matter Experts who deliver Truly Comprehensive Financial Services™
TBW: The Best Way™
TCC: The Circle Chart™
TCD: The Ten Client Deliverables™
TFS: The Focused Solution™
The Annual Tax Projection: One of The Five Critical Reports™, this tax projection is created during the four months prior to the end of the annual income tax period for every Ideal Client. Unlike the other Critical Reports, the format is established by the Subject Matter Expert creating it (usually 1 - 5 pages). Once the tax returns have been filed with the government, the tax return form (1040 in the U.S.) replaces this document as the Tax Critical Report.
The Best Way™: The method utilized to document every process in your office, on one page, in 20 minutes or less no matter how complicated.
How to map a process using The Best Way™ method.
The Circle Chart™: One of The Five Critical Reports™, this unique one-pager lists all of the following (and more) for an Ideal Client's financial situation:

- Dates of birth & all account numbers
- Every growth asset & all cash reserves (with detail of positions)
- Regular flows of all funds into & out of every account (income, systematic withdrawals, tax withholdings, etc)
- All liabilities with detail
The Comprehensive Safety Review™: Meeting 1 of 3 in The Three Meeting Process™. In addition to the routine progress meeting agenda items, the focus area is identifying risks to the plan and recommendations resulting from a full insurance review.
The Deliverables Team Round-table™: The meeting in which all Deliverables Team Members discuss the merits of a client's plan, methods of accelerating results, hidden risks to the plan and conduct peer-review of all recommendations.
The Dry-run Prep Meeting™: An internal meeting held by the Administrative Manager for the Trusted Advisor for the purpose of fully reviewing and finalizing all the meeting prep-work for every client progress meeting 7 - 10 days before the actual client meeting.
The Five Critical Reports: Five simple reports, one for each major area of finance, used to update every Subject Matter Expert on your Deliverables Team about an Ideal Client's current circumstances.
The Five Critical Reports™ are completely delegated (100%) to your five Subject Matter Experts (SMEs), with one critical report assigned to each SME. Unless there's an SME vacancy, none of The Five Critical Reports™ are created by the Trusted Advisor's admin team (EX: Administrative Manager does not create any of The Five Critical Reports™). The Five Critical Reports™ are a summary report covering that SME's area of personal finance.
Because The Five Critical Reports™ are 100% delegated to SMEs, filling at least one SME vacancy every 60 days is top priority (The target is to fill at least 3 SME vacancies every 6-months). Likewise, replacing SMEs who are unable or unwilling to provide an average of 3-5 IMPRESSIVE Action Items or recommendations per Ideal Client Progress Meeting, is also top priority. The sooner your team of five (5) SMEs is filled, the sooner you can achieve The Team Goal of consistently exceeding each Ideal Client's expectations, as measured by The Annual Referral Rate™ (TARR). Your TARR metric, which is your annual client referral rate (tracking Ideal Clients separately from Non-ideal Clients) is updated by your Administrative Manager every month. If your TARR is lower than 5.0, your client satisfaction needs improvement (if your TARR is below 2.0, your client satisfaction rate is LOW, and needs immediate attention).
Instructions for creating & Auditing The Five Critical Reports™ are found by following this path in The Toolkit system:
Home > processes > delivering_on_the_promise (Click Here)
The Five Critical Reports™ are these:

- Financial Planning Subject Matter Expert: The Greatest Probability Strategy™ (GPS) step-by-step implementation plan-of-action. [and The Progress Reports™, such as The Since Inception Progress Report™ & The Goals Progress Report™]
- Money Management Subject Matter Expert: The Circle Chart™
- Tax Planning Subject Matter Expert: The Annual Tax Projection™ (or the most recently fully-reviewed filed tax return, which ever is more recent)
- Estate Planning Subject Matter Expert: The Legacy Flow™
- Insurance Subject Matter Expert (Risk & Safety): The Insurance Grid™
The Focused Solution™: A compelling exercise utilized by an individual or a group to push through roadblocks, bottlenecks and obstacles to any project or goal. The two most common applications are helping Deliverables Team Members become more resourceful, and with clients during The Comprehensive Safety Review™ progress meeting.
The FRM Update™: Meeting 3 of 3 in The Three Meeting Process™; aka The Annual Review. In addition to the routine progress meeting agenda items, the focus areas are the review of recommendations resulting from a full update of the clients financial plan projections as well as an update of the client's cash reserve target and debt reduction plan.
The Go-To Grid™: A table displaying every function, deliverable and routine project in your office so that everyone on your team knows exactly what to do and when to do it.
The Goal Blueprint: A single page document describing the funding plan for an individual client goal. One of the Ten Client Deliverables. Read more...
The Goal Progress Outlook™: Meeting 2 of 3 in The Three Meeting Process™. In addition to the routine progress meeting agenda items, the focus areas are a review of the client's estate plan and recommendations resulting from a full due diligence review.
The Greatest Probability Strategy™: The step-by-step implementation plan of action for every Ideal Client. It is the repository for all action items and recommendations created by your Deliverables Team.
The Implementation Meeting: Immediately after being hired, this one-time meeting immediately follows your initial client interview. Usually dominated by "document signing," this is also when the first Greatest Probability Strategy™ step-by-step implementation plan of action is presented to your Ideal Client.
The Initial Progress Update Meeting™: This one-time meeting with Ideal Clients is 45 days or less after The Implementation Meeting. It serves as an update meeting for the now, more robust, Greatest Probability Strategy™ step-by-step implementation plan of action. The client's comprehensive financial plan will be fully completed in 45 days or less after this meeting after which The Three Meeting Process™ commences with The Comprehensive Safety Review™.
The Insurance Grid™: One of The Five Critical Reports™, this simple one-pager gives all the critical details of insurance coverages for an Ideal Client.
The Legacy Flow™: One of The Five Critical Reports™, these two 1-page documents summarize every scenario of an Ideal Client's entire estate plan unfolding (wills, trusts, etc.), powers of attorney and medical powers.
The Ten Client Deliverables™: The ten core services which, when provided annually, comprise comprehensive financial services.
The Three Meeting Process™: 3 scheduled progress meetings—one every four months—each year with each Ideal Client. Each meeting has its own unique agenda.

Personal tools

Master Glossary